Do Wachovia and Bank of America Hate the Students?

Were you counting on a Wachovia student loan for this year's UNC - Chapel Hill undergraduate tuition? Today's Philadelphia Business Journal says, " Wachovia Corp. stopped accepting applications for private, undergraduate student loans at the close of business Wednesday."

Also per the Business Journal, "In April, rival Bank of America Corp. said it would discontinue selling private student loans. At the time, a BofA spokesperson said the bank wanted to focus on government-backed loans to provide a more consistent experience for customers." [And to focus on their FUBAR "acquisition" of Countrywide.]

-charlottemom